Victims relieved after bank director arrested in south Georgia

By:
Dave Huddleston

Updated: Jan 1, 2014 - 4:11 PM

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Victims relieved after bank director arrested in south Georgia

COBB COUNTY, Ga. - Aubrey Lee Price, 47, a south Georgia bank director accused last year of defrauding his bank and clients in his money management business, has been arrested in Brunswick, federal authorities said Tuesday.

"This is a great, great way to start out the New Year for us," said Wendy Cross, of Cobb County, when she heard Price was arrested.

Cross, who owns the Wow Food Truck, says for years, she invested hundreds of thousands of dollars with Price.

"I started putting money into a retirement account from when I was 22, and that was completely wiped out and all of our savings," Crosssaid.

Price worked as a Georgia banker for years, but prosecutors say he was also running a Ponzi scheme and stole more than $21 million from investors like Cross.

In July 2012, he left a note saying he was going to jump off a ferry and kill himself.

But Tuesday night, Glynn County deputies arrested Price along Interstate 95 in Brunswick, Ga., because the window tint on his pickup was too dark.

"Him being caught give you faith that if you hold the faith, good overcomes evil," Cross said.

Channel 2's Dave Huddleston talked to Cleveland, Ohio, attorney John Chapman, who specializes in investment cases and represents 60 people in Georgia who say Price stole thousands of dollars of their money.

"I think it's satisfying. I think it's a great day for investors when you can bring somebody like that to justice," Chapman said.

Price, who is charged with one count of bank fraud, is scheduled to make his initial appearance on the federal arrest warrants at 10 a.m. Thursday at the federal courthouse in Brunswick. He also faces charges in New York.

If convicted of the fraud charge, he faces a maximum sentence of 30 years in prison and a $1 million fine.